OpenSea partners with Warner Music Group on music NFT drops
Quick Take
- Warner Music Group partnered with OpenSea to help engage music fans through NFT drops.
- The move follows other major splashes the music NFT industry saw this year.
NFT marketplace OpenSea has partnered with the U.S. record label Warner Music Group.
Artists who signed under Warner Music Group will have their own drop pages on OpenSea in an attempt to bolster fan engagement and build community, according to a Warner Music Group release.
“As a massive music fan myself, I’m thrilled to work with a partner who understands the significance of this technology, and wants to use it for good — to empower artists to own their fan connections directly,” OpenSea’s Vice President of Product Shiva Rajaraman said in the statement.
Warner Music Group partnering with OpenSea follows other developments the music NFT ecosystem saw in 2022.
In February, Universal Music Group partnered with the entertainment NFT platform Curio to drop digital assets for the record label. Music streaming giant Spotify announced in May that it will begin trialing NFTs on its platform.
NFTs can offer certain perks to performance artists, such as letting artists generate recurring revenue through royalties and allowing their work to be used in virtual worlds, founder of the music NFT platform HitPiece Rory Felton previously told The Block.
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